What are Decentralized Applications (dApps)?
A decentralized application (dApp, Dapp or DApp) is an application run by many users on a decentralized network with trustless protocols and are designed to avoid intermittent failures in nodes or the links between them. As a fairly new technology innovative use cases are just starting to be explored, but we see this as a concept that will be critical to the way many application will be architected in the future.
dApps are fault tolerant in that they run across a distributed network and thus are not hindered by a single point of failure. In addition, they are “decentralized” in that no system or node has any central controlling or governing authority. In fact, most systems use a Peer-to-Peer topology (these computers may be public, semi-private/consortium, or private) and transactions run on many (or in some cases, all) nodes and are kept in sync by different consensus protocols.
No Trust Required, while Secure
dApps generally use trustless protocols that rely on cryptographic security that ensures data immutability once consensus has been reached by the nodes. Situations where you need to work with other parties in absence of a pre-existing trust relationship or trusted intermediary (who always charge fees and rents) are perfect candidates for this technology.